The withdrawal of Sithe Global from the Amaila Falls Hydropower Project is a huge disappointment.
This is according to Leader of the Alliance for Change (AFC) Khemraj Ramjattan, during a brief telephone interview today [August 12, 2013]
The AFC leader explained that this action by the company will be a major deterrent for future investments in Guyana.
On Friday last, the company pulled out as an investor, citing a lack of national consensus on the part of the Parliamentary opposition. Sithe Global invested some US$16M in the project.
OnAugust 8, the National Assembly passed the legislation relating to the Project, but without the support of the main opposition – A Partnership for National Unity (APNU).
At a recent consultation at the conference center, President of Sithe Global Brian Kubeck called on the parliamentary opposition to support the project.
However, while the minority opposition – the Alliance for Change voted in favour of the Amaila Bills in the National Assembly, APNU parliamentarians did not.
During a brief statement at State House on Friday last, President Donald Ramotar told some media personnel that government is doing the best it can to save the project as they are still in talks with the officials of Sithe Global.
The government has spent more than US$12 million to build a road to access the hydropower site.
